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On September 6 , Irene Westing purchased one bond of Mick Corporation at 9 6 . 7 5 % . The bond pays 1 0

On September 6, Irene Westing purchased one bond of Mick
Corporation at 96.75%. The bond pays10.5%interest on
June 1 and December 1. The stockbroker told Irene that she would
have to pay the accrued interest and the market price of the bond
and a $5 brokerage fee.
What was the total purchase price for Irene? Assume a 360-day year
(each month is 30 days) in calculating the accrued interest.
(Hint:Final cost = Cost of bond + Accrued interest +
Brokerage fee. Calculate time for accrued
interest.)(Round your answer to the nearest
cent.)
Total purchase price
$

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